Onto Innovation Q1 2024 Earnings Report
Key Takeaways
Onto Innovation reported revenue of $229 million, driven by customer capacity expansions for high-performance computing (HPC) and high bandwidth memory (HBM) supporting AI market growth. The company's GAAP diluted earnings per share was $0.94, and non-GAAP diluted earnings per share was $1.18. Cash from operations was $57 million, representing 25% of revenue.
Revenue reached $229 million, fueled by AI market growth and customer capacity expansions.
GAAP and Non-GAAP gross margin both at 52%.
Specialty and advanced packaging customers revenue set a new quarterly record at $161 million.
Dragonfly® G3 inspection system shipments for AI packaging increased over 30% compared to the previous quarter.
Onto Innovation
Onto Innovation
Forward Guidance
For the second fiscal quarter ending June 29, 2024, the Company expects revenue to be in the range of $230 to $240 million and GAAP diluted earnings per share to be in the range of $0.88 to $1.00. Non-GAAP diluted earnings per share is expected to be in the range of $1.14 to $1.26.
Positive Outlook
- Revenue is expected to be in the range of $230 to $240 million.
- GAAP diluted earnings per share is expected to be in the range of $0.88 to $1.00.
- Non-GAAP diluted earnings per share is expected to be in the range of $1.14 to $1.26.